Purpose

To seek approval for
the use of £6.7m to secure 27 affordable housing units across
the city, funded from £3m of grant (Local Authority Housing
Fund) and £3.7m of HRA borrowing. This will be used to meet
the needs specified in the grant conditions, notably for refugee
resettlement and to alleviate pressures on homelessness
services.

Decision

To approve:
 
I)         
the use of £6.7m, to secure 27 affordable housing units
across the city to meet the objectives outlined in the Decision
report;
II)         the
addition of £6.7m to the 2023/24 HRA capital programme
financed from £3m of LAHF grant and £3.7m of prudential
borrowing.

Reasons for the decision

To
enable LCC to secure £3.013m of grant funding towards the
acquisition of 27 new council homes; and to enable the total costs
related to these acquisitions to be approved expenditure within the
Housing Capital Programme.